No Annual Fee
We reported that the BBVA is offering the NBA credit card with no-annual-fee for life if you apply before 6/30/15. The good news is that they’ve now extended that offer until 8/31/15. (Direct Link)
The standard offer on this card is that the first year is without an annual fee and after that it’s $50 per year. Under this offer, they will NEVER charge you an annual fee for the card, even past the first year.
The $100 signup bonus is still available.
(Note that the Fine Print on the actual application is still stating the deadline of 6/30/15. We’ve seen this before that it takes them time to update the Fine Print on the actual application. It’s worth saving a screenshot to be safe.)
Many people are asking for a recommendation whether to get this card or not. The main question is whether they’ll continue having the 5x-everywhere offers twice per year or if they’ll drop that. For now, that offer is still showing up along with all the card details. My guess is that if they do change something (which is likely) it will be in the form of adding a cap on the rewards (a la Old Blue Cash and the TD 5% card), rather than scrapping the benefit completely.
If you’re applying solely for the 5x reward benefit, it’s a hard call. But it’s worth remembering that aside from that there are a number of other benefits here:
- $100 signup bonus
- it’s a fee-free Amex card (I estimated the value to be $100-$200 per year)
- they have other bonus offers which run periodically, such as the current travel promo offer and the (expired) grocery store offer
- Grocery stores were actually earning 6x rewards during the 5x promo period
If we’ll assume that there’ll always be some sort of promo during the Playoffs and Allstar (even if it’s capped or whatnot), this can really be a valuable card. That said, if you’re in it just for the 5x offer, it may be worth biding your time and noting August 31 on your calendar to see what’s being shown then on the offer page.
Note that applying for this card is usually an Experian pull which many of us don’t like.
HT: Reader P